General overview for 01/10/2015 10:00 CET
Yesterday's attempt to label the current wave progression as impulsive has been invalidated due to wave i and wave ii overlaps. Currently, the count has been updated and now two scenarios are possible. Main scenario indicates a developing ending diagonal pattern in big wave 5 purple. An alternative scenario indicates an uncompleted wave 4 purple that is developing into more complex and time consuming corrective structure.
Support/Resistnace:
1.3455- Swing High
1.3451- WR1
1.3370 - Intraday Resistnace
1.3312 - Weekly Pivot
1.3270 - Intraday Support
1.3232 - Intraday Support
1.3208 - WS1
Trading recommendations:
Day traders should consider opening sell orders from the level of 1.3312 with SL above the level of 1.3317 and TP at the level of 1.3270.
